Although there have been quite a few projects working on the network of Ethereum, the ones most successful have been working on the Binance Smart Chain.
When 2021 started, they were seen as one of the hottest sectors- but currently, there have been quite a few platforms that are vying for the top spot.
The first platform on the Binance Smart Chain is XVS which is simply an algorithmic money market stablecoin protocol that assists users by providing borrowing and lending solutions for DeFi.
The next platform for BSC is CAKE which is an automated market maker quite similar to Uniswap and which allows most users to exchange the tokens that they have while earning a portion of the fees that would be generated through yield farming.
With an increase in the retail pool along with institutional investors participating en-masse in the market, the ecosystem has been growing.